Sunday, March 3, 2019

Tony Elumelu Launches UBA In London

Tony Elumelu, chairman of the United Bank for Africa, UBA, has launched the UBA UK in London.

The event which held at the Prestigious Shard, London, also had in attendance President of Dangote Group, Alhaji Aliko Dangote; president, Afreximbank, Dr. Benedict Oramah; Former Prime Minister of Pakistan, H.E Shaukat Aziz; Member of the British House of Lords and Executive Committee Member of the All Party Africa Group, Rt. Hon Lord Anthony Tudor St. John.

UBA had earlier announced that its London subsidiary had obtained regulatory approval to carry out wholesale banking activities in the United Kingdom.

With the approval in place, UBA is now the only sub-Saharan African bank to conduct banking activities London and New York as well as 20 other countries across Africa like Nigeria, Ghana, Kenya, Uganda, Senegal, DR Congo etc
Elumelu expressed joy that the bank was living up to its mantra of "Africa’s global bank", adding that UBA was now properly positioned to support corporate and government institutions in efforts to improve trade relations in Africa and sustain growth between the continent and Europe.

He said: "The enhancement of our business in the United kingdom is very timely and mutually beneficial for African and European corporates as well as respective governments".

According to the Group Managing Director/CEO, Kennedy Uzoka, “UBA Group is the most efficient gateway for European corporates and institutions to access Africa, given the bank’s expansive network across most impact markets on the continent and its deep knowledge of the business terrains in Africa.”

The CEO, UBA UK, Mr. Patrick Gutmann also said: We are now on a stronger footing, as the authorization of the PRA and FCA for an enhanced business model affords us the opportunity to swell our capital and balance sheet as well as the broader UBA Group’s network across Africa.”

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